Insights from Learn2.trade

[analyst75 12]

IS IT RATIONAL TO SETTLE FOR 10% RETURNS PER MONTH?

“One of the secrets few know and fewer implement when it comes to trading success is that you have to really care about doing well. These days, I see a lot of traders not caring enough, not prioritizing learning about trading, and making pathetic weak-willed excuses.” – Chris T.

Perfectionism – a bane of the trading world
When people look for a solution to their trading problems, they tend to look for the solution in the wrong places, having the wrong mindset. One problem with most traders is perfectionism. For instance, we tend to go to those who promise us 50% to 100% per week or month. If someone gives an estimate of 5% profits per month, we would think that is too small. If an investment salesperson promises huge returns in a short period of time, we’re drawn to them.

What if I tell you that 5% per month is good returns on your trading or investment, would you agree with me? Is 60% growth per annum not good enough?

Many years ago, one of my mentors in the financial industry told me that, even 20% growth per annum is good.

In schools, we tend to ridicule those who make average grades and praise those who make excellent grades. The same is true of the world of sports. Do you think great sports teams win all their matches always?

No! But they do well over time.
Are 10% gains per month too low?

Now let me ask these questions:

How much percentage do you earn on your savings account per annum?

How much do you earn on your fixed deposit account per month?

How many people can pay off their mortgages within one year?

If you buy a bus, to use for commercial purposes, is it easy for you to recover your money in one year?

Can you buy a property and sell it for 100% profit within 10 months?

If you found a startup, how long do you think it would take you to start making profits?

Please attempt to answer these questions yourself, based on real-life experiences.

Now, back to the question that makes the last subheading: Are 10% gains per month too low?

Why do we tend to be unrealistic and fallacious when it comes to online trading?


Making 10% returns per month from Learn2.trade crypto signals
One good thing about the margin trading of cryptos is that you can make money, both in bull and bear markets. You don’t make money only when the price is going up. If your timing and methodology are right, you can predict a downward movement or an upward movement and participate in them.

Learn2.trade provides quality crypto signals to interested traders. Each signal comes with stop loss and take profit targets. Sometimes a trade is closed before the stop or the target is hit.

We use 5 types of orders for the crypto signals. They are Instant Execution, also known as Market Execution, Buy Limit, Sell Limit, Buy Stop, and Sell Stop.

Generating an average of 2 – 3 signals per day, we also use risk settings that are usually around 1% per trade and we attempt to gain more than we risk. As these signals are sent, we ensure that we also use them, practicing what we preach.

Learn2.trade crypto signals – recent performances
Please check the image below to peruse what has been made recently. You see can that we use stop loss, and use small lot sizes, relative to the size of the accounts. It just doesn’t make sense to bet too big on an individual trade.

You can also see that we have both losses and profits. However, our average profits are bigger than average losses. That is the pedigree of a viable/ promising strategy: Make more money than you lose.

Therefore, losses and drawdowns are also tightly controlled so that they don’t have significant effects on the account. These kinds of drawdowns are shallow, for recovery and eventual growth always happen.

The markets are difficult but profitable
Making consistent, regular profits from the market is hard, but success is possible. When the markets prove difficult, then we only need creative approaches. Markets will continue to prove uneasy and tough, but we will continue to make profits from them, no matter what.

We target 10% profits per month, though we make more than this in most cases. 100% profits every 10 months is an enviable achievement. If 10% gains per month are compounded, the results in a few to several years will be amazing. Yes, you should be aware of the power of compounding.
Join us today, in this journey of regular, monthly profits.

Please see the image above, to know relevant metrics and figures of the recent results of the strategy behind the signals.

You can join us here for, few free crypto signals per week:
For Cryptos.

Or you can hop in, and become our VIP right away, and enjoy all our crypto signals, up to 3 signals per day. Get access to the ability to make 10% or more per month.


You can monitor our crypto signals trading performances here: L2T Crypto Signals on MyFxbook

 

Source: https://learn2.trade 

 

[analyst75 12]

EURUSD HOVERS NEAR MULTI-MONTH LOW, UNDER 1.1250 LEVEL

 

EURUSD Price Analysis – November 24

Throughout the session, the EURUSD pair remained on the losing side and was last seen moving with considerable losses around the 1.1250-36 level. The announcement that the White House has opted to reappoint incumbent Fed Chair Jerome Powell for a second term sparked the recent strong dip. The spot is trading at 1.1253 at the time of writing, down 0.25 percent on the day.

Key Levels
Resistance Levels: 1.1525, 1.1422, 1.1300
Support Levels: 1.1200, 1. 1150, 1.1100
EURUSD Long term Trend: Bearish
EURUSD has sunk to fresh multi-day lows, as seen on the daily chart, after extending the recent breach beneath the moving averages 5 around the 1.1300 level. This exposes the possibility of a deeper pullback and a re-test of the psychological support around 1.1200. Under the 1.1200 level, the euro’s underlying bullish attitude is in jeopardy.

Overall, the EURUSD stays bearish while trading under the major horizontal support turned resistance and significant level at 1.1422. A breakout of the 1.1300 level, on the other hand, would aim for the 1.1350 level on the way to the 1.1400 zones. The fall of the 1.1200 zones, in the alternative scenario, is viewed as a bearish continuation indicator.
EURUSD Short term Trend: Bearish
The risk is weighted to the negative on the 4-hour chart, as the pair is developing below the firmly bearish 5 and 13 moving averages. Technical indicators have shifted to the downside, with negative levels. However, in the present scenario, the RSI has not yet reached oversold territory, allowing for more selling.

On the upside, a break over the modest resistance level of 1.1300 might shift the intraday bias to neutral. On the downside, the 1.1200 zones provide initial support. The next important level of support is around the 1.1150 mark. If there are any more losses, the 1.1100 extension level of the low decline may be tested.

Source: https://learn2.trade 

[analyst75 12]

EURJPY DEPRECIATES TO LOWS NEAR 128.00 FOLLOWING COVID RESURGENCE

 

EURJPY Price Analysis – November 26

EURJPY pair fell for the third session in a row on Friday, depreciating to the area of recent lows in the 128.00 range. As the new strain of COVID weighs heavily on investors’ sentiment, strong buying interest in the Japanese yen puts EURJPY under added pressure in the sub-129.00 levels.

Key Levels
Resistance Levels: 130.50, 130.00, 129.61
Support Levels: 127.00, 126.50, 126.00
EURJPY Long term Trend: Ranging
On Friday, the EURJPY opened higher at 129.31 and moved lower to 127.79 intraday lows losing almost 1%. The pair plunged, as bears emerged and traders focused on levels below 128.00. To investigate the bearish scenario, a decisive fall below 128.00 must be established.

The pair may continue to fall into the next session, with bearish traders targeting the 127.00 area as a possible objective. As long as the 128.00 support level holds and the price is sustained above, more gains may be expected. A strong breakout of 128.50, on the other hand, would confirm that the rebound from 127.79 low has come to stay, bringing this low back into focus as a new bottom.
EURJPY Short term Trend: Bearish
The EURJPY is still trading bearishly from its October high of 133.47 on the 4-hour charts, and the intraday bias is still to the downside. If the resistance at 128.50 holds, a further drop is likely. A decisive rebound past 128.50, on the other hand, will consolidate on the entire rebound from 127.79 low level.

The mid-term support turned resistance level of 130.00 will be the next level of contention. A break of revised support around the 128.00, on the other hand, might reverse the rebound and broaden the down leg from 130.00 with a new phase of the drop towards the mid 127.00 in the coming session.

 

Source: https://learn2.trade

[analyst75 12]

USDJPY PRICE OUTFLOW IS DRAWN BY SELLERS BACK TO 114.840

 

USDJPY Price Analysis – November 25

USDJPY price outflow is being held back as a consequence of bears causing opposition to the market influence. The price structure of the market strives to maintain an uptrend configuration under a bullish influence. However, the sellers are causing some resistance in the market, which is causing a hold in the market configuration. Because of this conflict in the market, the outflow of the bulls in the market will be held back to the 114.840 critical level.

USDJPY Critical Levels

Resistance Levels: 114.840, 112.790
Support Levels: 110.800, 109.100

USDJPY Long Term Trend: Bullish

The bullish outflow price structure initially began with the expansive breadth of consolidation. The market was birthed after a strong price expansion before the bullish uprise. The price undulated between the breadth of the 110.800 and 109.100 significant price levels. As a result of this accumulation, the price was then pushed out to higher levels. With the continuation of the market expansion, buyers outflow upward, with the bulls taking hold of the market.

Furthermore, price continues to experience more outflows as several structural levels were broken. When USDJPY eventually gets to the 112.790 level, the price resumes its accumulation phase. The market encountered a short phase of expansion before resuming bullish persistence. The price finally breaks through the 114.840 significant level and we expect a withdrawal back to this price level before bullish engagement. The Tensile Strength indicator shows the resilience of the market influence as the market is set to resume its bullish leverage after sellers retreat.

USDJPY Short Term Trend: Bearish

The 4-hour chart of USDJPY shows the price configuration riding upward following a strong force that broke through the 114.840 critical level. The price is now set in a retreat motion as the price is seen to be pulling away to the 114.840 price level. The Moving Average Convergence and Divergence indicator shows the market’s prevalent direction as the price is set on a pullback course to the 114.840 critical level before bullish outflow.

 

Source: https://learn2.trade

[analyst75 12]

GOLD (XAUUSD) IS IN DOWNTREND AS SELLERS THREATEN TO SHORT

 

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650

Gold (XAUUSD) Long-term Trend: Bearish
Gold (XAUUSD) is in a downward move. On November 16, XAUUSD rallied to $1,877 high. Buyers could not sustain the bullish momentum as the market reached the overbought region. Gold was rejected from the recent high as the market declined sharply to the low of level 1782. Presently, the Gold price is above the 50-day line SMA but below the 21-day SMA. If the 50-day line support holds, Gold will be range-bound between the moving averages.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold is at level 42 of the Relative Strength Index for period 14. XAUUSD is now in the downtrend zone and below the centerline 50. Gold price is between the moving averages which will result in a range-bound move above the current support. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the Gold price is in a downward move. The downtrend has reached bearish exhaustion. Meanwhile, on November 16 uptrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.618 Fibonacci extension or $1,802.08. From the price action, the market declined to level 1778 and resumed consolidation.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
Gold is above the 40% range of the daily stochastic. The market is in bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) is in a downward move. For the past week, the Gold price has been consolidating above level 1778. The downtrend has reached bearish exhaustion as price holds above the previous low.

Source: https://learn2.trade 

[analyst75 12]

SILVER (XAGUSD) TO REINFORCE RECENT BOUNCE FROM $22.03 LOWS

 

Silver (XAGUSD) Price Analysis – December 9

Silver (XAGUSD) remains under pressure, having pared a corrective drop from a multiday low on Friday. After the drop to $22.03 lows, the white metal might reinforce the recent bounce towards the $23.00 level. As risk flows dominate the financial markets, the white metal continues to attract buyers.

Key Levels
Resistance Levels: $24.00, $23.50, $23.00
Support Levels: $22.03, $21.42, $21.00
XAGUSD Long term Trend: Bearish
On XAGUSD daily chart, a significant price rise has been verified, which usually results in the preceding positive advance being accelerated. As a result, it’s characterized as a bullish reversal trend.

To confirm the upward rebound, a daily close above the flag’s high end, now at $22.59, is necessary. This might lead to a price of $23.50 (target according to the moving average 13). Silver, on the other hand, may meet resistance at levels $23.00 and $24.82 (high of Oct 21).
XAGUSD Short term Trend: Bearish
Silver (XAGUSD) has rebounded further from a technical perspective, as demonstrated on the 4-hour chart. It has now recovered to levels above both the 5 and 13 moving averages. The nearest resistance is at $23.02, while the first and second support levels are predicted to be around $22.10 and $21.42, respectively.

The XAGUSD’s rally may continue with the intraday bias pointing to the $23.02 barrier. A break there will confirm the corrective pullback from the $25.40 level is over. On the upside, a break above the $23.50 minor barrier will trigger a positive intraday bias. In the event of a pullback, however, the risk will remain on the negative as long as the $23.02 resistance level holds.

Source: https://learn2.trade 

[analyst75 12]

CARDANO PRICE: $1.11 SUPPORT LEVEL MAY HOLD, PRICE INCREASE ENVISAGED

ADA Price Analysis – December 18

An increase in the bears’ pressure may push the price to the support level of $0.98, below it is $0.82 level. Inability to break down the $1.11 by the bears may lead to price reversal and it may increase the price to resistance levels at $1.32, $1.46 and $2.64.

ADA/USD Market

Key Levels:

Resistance levels: $1.32, $1.46, $1.64

Support levels: $1.11, $0.98, $0.82

ADA/USD Long-term Trend: Bearish

Cardano is bearish on daily chart. The bears dominate Cardano market since September. The bearish momentum decrease the price to $1.87 price level on October 27. The decrease was interrupted with the formation of bullish engulfing candle which indicate the buyers’ pressure. Cardano price pulled back to $2.3 level. Bearish movement was restored the following day and the price falls to $1.11.

ADAUSD daily chart, December 14

Cardano is trading below the 9 periods EMA and 21 periods EMA after broken down the dynamic support levels. An increase in the bears’ pressure may push the price to the support level of $0.98, below it is $0.82 level. Inability to break down the $1.11 by the bears may lead to price reversal and it may increase the price to resistance levels at $1.32, $1.46 and $2.64. The technical indicator relative Strength Index period 14 is at 30 levels with the signal line pointing downside which indicates a bearish signal.

ADA/USD Medium-term Trend: Bearish

Cardano is on the bearish movement on 4-hour chart. Last week, Cardano was under the control of the bears. The bearish momentum pushes the price down to the support level at $1.32. The level was defended by the bulls with the formation of bullish engulfing candle. The price pulled back and increases toward the resistance level of $1.46.

The price is trading below the 9 periods EMA and 21 periods EMA while the two EMAs are crossing each other. The relative strength index period 14 is at 40 levels and the signal line pointing up to indicate buy signal which may be a pullback.

Source: https://learn2.trade 

[analyst75 12]

POLKADOT (DOT) FLUCTUATES IN A RANGE AS SELLERS ATTEMPT TO BREAK CURRENT SUPPORT

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price is hovering above the $25 price level. The cryptocurrency has been fluctuating above the current support at $23.95. During the December 4 price slump, the bears retested the current support twice but failed to sink the altcoin. Also, the bulls bought the dips as buyers pushed the altcoin upward. The upward correction was interrupted twice on December 7 and 9 as the crypto fell and resumed the range-bound move. Polkadot has already fallen to the oversold region on December 4. Therefore, a further downward move is unlikely. Buyers are expected to emerge in the oversold region.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is at level 33 of the Relative Strength Index period 14. The market is in the downtrend zone and below the centerline 50. The crypto’s price bars are below the moving averages which indicate a further downward move. The altcoin will rise if price breaks above the moving averages.


Polkadot (DOT) Medium-term Trend: Ranging
On the 4-hour chart, Polkadot is in a range-bound move. The cryptocurrency is fluctuating between $24 and $30 price levels. Polkadot will resume trending when price breaks the range-bound levels. For instance, if price breaks the $30 resistance and the bullish momentum is sustained, the uptrend will resume.

DOT/USD – 4 hour

4-hour Chart Indicators Reading
DOT price is above the 25% area of the daily stochastic indicating a bullish momentum. The altcoin is rising after falling to the lower price range. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

General Outlook for Polkadot (DOT)
DOT/USD is now in a range-bound move. The bearish trend has subsided above the $23.95 support. The altcoin will resume an uptrend if price rebounds above the current support.

 

Source: https://learn2.trade 

[analyst75 12]

GBP/USD HOVERS ABOVE LEVEL 1.3200, MAY RESUME UPTREND

 

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bearish
GBP/USD pair is in a downtrend but may resume uptrend. The bears have pushed the altcoin to the low of level 1.3216. This is the previous low of December 7. The market will resume upward if the current support holds. Otherwise, the selling pressure will resume. Meanwhile, on July 19 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that GBP/USD is likely to fall to level 1.618 Fibonacci extension or level 1.3.

GBP/USD – Weekly Chart

Daily Chart Indicators Reading:
GBP/USD is at level 33 of the Relative Strength Index period 14. The currency pair is approaching the oversold region of the market. The price bars are below the 21-day line and 50-day line SMAs indicating a further downward move.

GBP/USD Medium-term Trend: Bearish
On the daily chart, the pair is in a downward move. The Pound price is making a series of lower highs and lower lows. The moving averages are acting as resistance to the Pound. Meanwhile, on July 19 downtrend; a retraced candle body tested the 50% Fibonacci retracement. The retracement indicates that GBP/USD is likely to fall to level 2.0 Fibonacci extension or level 1.2920.

GBP/USD – Daily Chart

Daily Chart Indicators Reading
The pair is above the 25% range of the daily stochastic. The daily stochastic bands are sloping horizontally. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/USD
The Pound is nearing bearish exhaustion as it falls to the oversold region of the market. The Pound is hovering above level 1.3216. The currency will resume an upward move if the current support holds. Otherwise, the market will fall and revisit level 1.618 or 2.0 Fibonacci extension or 1.3169 and 1.2920.
 

Source: https://learn2.trade 

[analyst75 12]

NZDUSD BEARISH BAR AIM TO BREAK OVER PRICE LEVEL

NZDUSD Analysis – Bearish Bar Aim to Break Over the 0.67000 Price Level of Influence

NZDUSD bearish bar aims to break over the 0.67000 price level of significance. The bearish order of the market has been a major contributor to market formation. The more their tributes emerge from the market, the more influence they tend to reproduce. Even though the buyers are also indebted in the NZDUSD market analysis, the bears are inclined to break price over another level of significance. This implies that the bearish order flow will continue to increase its price momentum as the market unfolds.

NZDUSD Market Levels:

Resistance Levels 0.72000, 0.70400
Support Levels: 0.68300, 0.67000

NZDUSD Long Term Trend: Bearish

NZDUSD market has created both bear and bull cognition in the market. The price first advanced with a quick motion above the 0.72000 level of influence. The candlestick strode upward with a range of influence. The market considerably experiences a short range of accumulation. As a result of the anticipated price accumulation phase, the bears appeared with a robust hand to move the price in another direction. When the bears push the price network downward here, their presence signifies a bearish order flow of influence. They are therefore willing to pay for price movement as price appearance continues to follow this.

After the bearish interference by bringing the price movement down to the 0.68300 price significance, the price activities are now being substantiated by both the bullish price and the bearish price. NZDUSD now displays its market ranging between the levels of 0.72000 and 0.68300 in price influence. However, with bearish influence encompassing the market, the bears are aiming to break over the next price level of 0.67000 for the market to progress.

NZDUSD Short Term Trend: Bearish

Following the 4hour chart, the price movement happens to be pursuing a downtrend. The bearish bar aims to break over the price level of influence in the market as it obeys the market’s bearish order. The Parabolic SAR (Stop and Reverse) shows how the market is reinforced in bearish order and the Momentum indicator declines as the price prepares to break over the 0.67000 market level in bearish order.
 

Source: https://learn2.trade 

[analyst75 12]

 

SILVER (XAG/USD) IS AN UPWARD MOVE, BATTLES THE OVERHEAD RESISTANCE AT $28

 

Key Levels
Resistance Levels: $26, $28, and $30
Support Levels: $24, $22 and $19

XAG/USD Price Long-term Trend: Ranging
XAG/USD price is in a sideways trend but battles the overhead resistance at $28. Following the uptrend on August 3, Silver rallied to a high of $28. The bulls could not sustain the bullish momentum above the recent high. For the past four months, the price has been fluctuating below the overhead resistance. On June 14, buyers were repelled as price breaks below the moving averages. The selling pressure may resume if price breaks below the moving average. Today, XAG/USD is trading at $22 at press time. Buyers are pushing the Silver (XAGUSD) to retest the overhead resistance.

XAG/USD – Weekly Chart

Weekly Chart Indicators Reading:
Silver (XAGUSD) is at level 43 of the Relative Strength Index for period 14. It indicates that the market is in the downtrend zone and capable of further decline. The 21-day line and the 50-day line moving averages are sloping horizontally indicating a sideways trend. The price bars are below the 21-day line and 50-day line moving averages indicating a possible downward move.

XAG/USD Medium-term Trend: Bullish
On the 4- hour chart, Silver (XAGUSD) is in a brief uptrend. The uptrend is expected to reach the high of level $23. Meanwhile, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that Silver will rise to level 1.618 Fibonacci extension or $23.14.

XAG/USD – 4 Hour Chart

4 -Hour Chart Indicators Reading
Silver (XAGUSD) is above the 80% range of the daily stochastic. It indicates that the market is in the overbought region. The market may decline as sellers emerge in the overbought region. The 21-day line and 50-day line moving averages are sloping
upward indicating the brief uptrend.

General Outlook for XAG/USD
Silver (XAGUSD) is in a downward move but battles the overhead resistance at $28. Buyers failed to keep price above the $28 overhead resistance level. The brief uptrend is facing resistance at the high of level $23. The market will further decline if it faces rejection at the recent high.
 

Source: https://learn2.trade 

[analyst75 12]

GOLD (XAUUSD) IS STUCK IN A RANGE, FACES REJECTION AT $1,800

 

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650

Gold (XAUUSD) Long-term Trend: Bullish
Gold’s (XAUUSD) price is above the moving averages but faces rejection at $1,800. The market ought to rise as prices are above the moving averages. The bulls are yet to keep the price above the moving averages. Since July, buyers have failed to sustain the bullish momentum above the $1,800 resistance level. According to the daily stochastic, Gold is trading in the overbought region of the market. Therefore the current uptrend may face rejection to the downside.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
The gold price has risen to level 56 of the Relative Strength Index for period 14. XAUUSD is in the uptrend zone and above the centerline 50. It is capable of rising. The moving averages are sloping horizontally indicating the sideways trend. Gold price is above the moving averages indicating a possible rise of Gold.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the Gold price is in a range-bound move. Since November 23, the market has been fluctuating between $1,760 and $1,800. Since July, the bulls have not broken above the $1,800 resistance level. In the same vein, since November 23, the bulls have been defending the $1,760 support. Gold price will resume trending when the range-bound levels are breached. The market will have an accelerated movement if the $1,800 resistance is breached, The market will rally to $1,860 high.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
The market is still above the 80% range of the daily stochastic. It has risen to the overbought region. The Gold price is likely to retrace or fall. In other words, sellers will emerge in the overbought region of the market to push prices down.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) has been trading in a sideways trend since November but faces rejection at $1,800. The price is relatively stable as it fluctuates between $1,760 and $1,800. Presently, Gold is likely to fall as it reaches the overbought region of the market.
 

Source: https://learn2.trade 

[analyst75 12]

BINANCE COIN (BNBUSD) PRICE APPROACHES POTENTIAL BULLISH REVERSAL LEVEL

 

BNBUSD Price Analysis – January 07

Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candlestick close below it, then, the price may decrease further to test the $364 support levels.

BNBUSD Market

Key levels:

Resistance levels: $503, $540, $599

Support levels: $430, $364, $311

BNBUSD Long-term trend: Bearish

Binance coin is bearish on the daily chart. The crypto was trading between the resistance level of $540 and the support level of $503 last week. The coin has tested the resistance level of $540 twice which indicate a signal for the bears to dominate the Binance coin market. On 05 January, the bears prevailed over the bulls with the formation of strong bearish candle that breaks down the support level of $503, the price is decreasing towards the $430 price level.

BNBUSD Daily chart, January 07

Binance Coin has penetrated the fast moving average and the slow moving average downside. The coin is trading below the 9 periods EMA and 21 periods EMA at distance which indicate that the bears’ momentum is gradually increasing in the Binance coin market. The Relative Strength Index period 14 is at 20 levels with the signal lines pointing down to indicate sell signal. Further increase in the sellers’ momentum will push down the Binance Coin to break the support level of $430 and if the daily candlestick close below it, then, the price may decrease further to test the $364 support levels. Inability to break down the support level of $430 by the bears, BNBUSD will break up the $503 and bullish trend may commence to the resistance levels at $540, and $599.

BNBUSD medium-term Trend: Bearish

BNBUSD is bearish in the 4-hour chart. The price was ranging within the $540 and $503 levels last week.  The price broke up the resistance level of $540 on December 27. The sellers rejected the price increase and break down the support level of $503 on January 05. The price is heading towards the support level of $430.

BNBUSD 4-hour chart, January 07

Binance coin is trading below 9 periods EMA and 21 periods EMA which indicate an increase in the bears’ momentum.

Source: https://learn2.trade 

[analyst75 12]

LITECOIN (LTC) FLUCTUATES BETWEEN $144 AND $155 AS BUYERS RECOUP TO RESUME UPTREND

Key Highlights
LTC price resumes downward correction
Litecoin fluctuates between $144 and $155

Litecoin (LTC) Current Statistics
The current price: $148.18
Market Capitalization: $12,451,441,024
Trading Volume: $12,451,441,024
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis January 5, 2022
Litecoin’s (LTC) price is still in a downward correction as buyers recoup to resume uptrend. Since December 28, the cryptocurrency fell to the range-bound zone at the bottom of the chart. On December 23 uptrend, the altcoin corrected upward but was repelled at the $165 resistance level. Consequently, LTC/USD fell below the moving averages. Today, Litecoin is consolidating above $144 support but below $155 resistance. The uptrend will resume if the bulls break above the moving averages or $165high.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC price is below the moving averages which indicate a possible fall of the cryptocurrency. The crypto has fallen to level 41 of the Relative Strength Index for period 14. The altcoin is in the downtrend zone and below the centerline 50. The market is above the 40% range of the daily stochastic. The bullish momentum is unstable as the price fluctuates.

Conclusion
Litecoin is in a range-bound move at the bottom of the chart as buyers recoup to resume uptrend. The price action is characterized by small body candlesticks called Doji and Spinning tops. The candlesticks are responsible for the current range-bound move. The candlesticks indicate that buyers and sellers are undecided about the direction of the market.

LTC/USD – 4 Hour Chart
 

Source: https://learn2.trade 

 

[analyst75 12]

ANNUAL FORECAST FOR GBPJPY (2022)

GBPJPY Annual Forecast – Bulls Have the Bias in a Ranging Market

The annual forecast for GBPJPY points to a bias in the bulls’ favor. The market has been in a ranging pattern as bulls and bears tussle for preeminence. Despite the bears’ being more aggressive, bulls are favored to gain preeminence. This is chiefly due to a very strong support level, which is at 132.980 and extends to 128.620. Currently, the price has risen from the support level to test the 157.000 resistance level, intending to break through it.

GBPJPY Significant Levels

Resistance Levels: 157.000, 174.770, 193.610
Support Levels: 149.260, 132.980, 128.620

GBPJPY Long Term Plan: Bullish

Sellers effected a correction to the bullish rise that happened from mid-2012 to mid-2015. The market got rejected at 193.610 and it took about a year to fall back to the 132.980 strong support zone. A bullish bounce occurred after that, but a limit was placed on the market at 157.000. This helped the seller to keep pounding against the strong support unsuccessfully. The bulls have stepped back to lift the market to 157.000.

The market rose from the support level in November 2020 and violated the 144.110 middle-range line. By May 2021, the price had touched below the 157.000 resistance and was rejected. Price, however, keeps recovering from the 149.260 level to retest the resistance. This continues into the year 2022. The RSI (Relative Strength Index) influences the annual forecast in the bulls’ favor as it has remained above the mid-level since 2020.

GBPJPY Medium Term Plan: Ranging

On the weekly chart, the market is essentially in equilibrium, as shown by the EFI (Elders Force Index) power line, which is almost parallel with the zero line. The RSI indicator still predisposes the market in the bulls’ favor as its line remains in the bulls’ half. The market is set to drop to 149.260 again to continue ranging, but the forecast is that GBPJPY will eventually break upward towards 167.830.

 

Source: https://learn2.trade 

 

[analyst75 12]

ANNUAL FORECAST FOR EURJPY (2022)

EURJPY Annual Forecast – Price Is Set to Scale New Heights With a Bullish Flag Formation

The annual forecast for EURJPY is for it to scale new heights, having conformed to a bullish flag formation. The bullish flag formation, an offshoot of the triangle pattern, began towards the tail end of 2020 as bulls began to exercise dominance in the market. The market began to recover from the 116.910 support level in May 2020. It pulled back when it first hit the upper border of its triangle pattern and surged through it at the second time of asking, thereby leading to the creation of the flag pattern.

EURJPYJPY Significant Zones

Supply Zones: 134.150, 140.650, 149.010
Demand Zones: 113.920, 116.910, 127.630

EURJPY Long Term Plan: Bullish

A bearish impact is visible annually in the market, notably since 2013. Every time EURJPY makes a bullish move, the move is cut off prematurely and it always leads to a plunge back around the 113.920 demand level. This happened from 2013 to 2016, and then from 2017 to 2020. The result is a triangle-tapered market structure. By June 2020, the price hit the 116.910 demand level and began another ascent, but this time, it eventually broke the triangle pattern on 2021 New Year’s Day.

The flag pole was formed as the price surged from 120.920 and was stopped abruptly at 134.150. Subsequently, EURJPY began cranking through a downward channel. This continued into the year 2022. The market forecast is for an upward liquidity flow. The upward signal of the MA Cross is still very valid. Meanwhile, the Moving Average Convergence Divergence indicator is showing dwindling bullish bars. This is due to the downward ranging in the market. Its signal lines remain above the zero level.

EURJPY Medium Term Plan: Bearish

In early 2022, prices are set to drop after hitting the upper border of the ranging channel. The MA Cross is directed down-sideways to show the undulating nature of the current market. The same can be said for the MACD indicator.
The annual forecast is towards the end of the year 2022 into early 2023 when the bullish flag pattern is anticipated to drive the market upward towards 140.650.

Source: https://learn2.trade 

[analyst75 12]

USOIL REACHES AN OVERBOUGHT REGION, MAY FACE REJECTION AT $85.39

Key Resistance Levels: $80.00, $84.00, $88.00
Key Support Levels: $66.00,$62.200,$58.00

USOIL (WTI) Long-term Trend: Bullish
USOIL has been in an uptrend but it may face rejection at $85.39. The index is retesting the previous high of $85.39. In previous price action in October and November, the bulls failed to break above the overhead resistance. Meanwhile, on December 9 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that WTI will rise to level 2.0 Fibonacci extension or $81.61. From the price action, buyers have broken above the Fibonacci extension and have reached a high of $84.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL is at level 70 of the Relative Strength Index period 14. It indicates that the index is in the overbought region of the market. The current uptrend is likely to face rejection at the recent high. Besides, sellers will emerge to push prices down. The index price is above the 21-day SMA and 50 –day SMA which indicates a further upward move.

USOIL (WTI) Medium-term bias: Bullish
On the 4-hour chart, the index is in an uptrend. WTI price has broken above the resistance at level 83.00. Meanwhile, on December 12 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that WTI will rise but reverse at level 1.278 Fibonacci extension or $84.22.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. The market has reached the overbought region. Sellers are likely to emerge to push prices down. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The uptrend will continue to the upside as long as price bars are above the moving averages.

General Outlook for USOIL (WTI)
USDOL has reached the overbought region of the market but may face rejection at $85.39. The current uptrend is likely to terminate at the previous price level of the market. WTI is trading at $84.39 at press time.

Source: https://learn2.trade 

[analyst75 12]

GOLD FLUCTUATES BELOW $1,830 OVERHEAD RESISTANCE, MAY SLUMP TO $1,800 LO

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bullish
Gold (XAUUSD) is in a sideways move but may slump to $1,800 low. Gold is retracing as it faces rejection at the high of $1,830. However, if price breaks the resistance level, the market will rise and retest the previous high of $1,860. Meanwhile, on January 14 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that Gold will rise but reverse at level 1.272 Fibonacci extension or $1,840.86.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold is at level 55 of the Relative Strength Index for period 14. The market has reached the uptrend zone and further upside is likely. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

Gold (XAUUSD) Medium-term bias: Ranging
On the 4 hour chart, the Gold price is in a sideways trend. The gold price fluctuates below the $1,828 overhead resistance. The sideways trend has been ongoing since December 21. Each time the market retest the overhead resistance, the selling pressure will resume. The current downtrend is likely to extend to the low of $1,804 before upward.

XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is below the 80% range of the daily stochastic. The market is in the bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price is declining as it may slump to $1,800 low. The market is fluctuating below the $1,828 resistance zone. The Gold price is falling to the downside. The upward move will resume if price finds support above the $1,800.
 

Source: https://learn2.trade 

[analyst75 12]

SOLANA REACHES OVERSOLD REGION AS THE ALTCOIN MAKES DEEPER CORRECTION

Solana has fallen to the low of $87
SOL/USD has reached the oversold region

Solana (SOL) Current Statistics
The current price: $90.94
Market Capitalization: $46,528,296,188
Trading Volume: $4,555,783,625
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis January 24, 2022
Solana’s (SOL) price has fallen significantly to the low of $87 as the altcoin makes deeper correction. The crypto’s price corrected upward but faces resistance at $104. If the crypto is facing resistance at $104, it implies that the selling pressure will resume to the downside. Presently, the altcoin is fluctuating between $80 and $104 price levels. The crypto will resume trending when the range-bound levels are breached. For instance, if the bears break below the $80, the market will decline to $68 low.

SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is at level 23 of the Relative Strength Index for period 14. The cryptocurrency is seriously in the oversold region. This is an indication that the current downtrend has reached bearish exhaustion. SOL/USD is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region of the market. Since December 29, the altcoin has been trading in the oversold region of the market. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Conclusion
Solana is in a downward move as the altcoin makes deeper correction.. The current price action and Fibonacci tool analysis are closely related. The cryptocurrency has reached the oversold region and there is a possibility of price reversal. Meanwhile, on December 14 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.618 Fibonacci extensions or $79.34.

SOL/USD – Daily Chart
 

 

Source: https://learn2.trade 

[analyst75 12]

CARDANO PRICE EXPOSES TO $0.98 SUPPORT LEVEL

ADA Price Analysis – January 25

When the sellers increase their momentum to push down price below $0.98, the support level of $0.83 and $0.73 may be tested. In case the Support level of $0.98 holds, the buyers may push up the price towards $1.11, $1.30 and $1.46 levels.

ADA/USD Market

Key Levels:

Resistance levels: $1.11, $1.30, $1.46

Support levels: $0.98, $0.83, $0.73

ADA/USD Long-term Trend: Bearish

Cardano is bearish on daily chart. Buyers and sellers are struggling over the crypto. The sellers are trying to overpower the buyers. Former support level of $1.30 and $1.11 has been penetrated downside by the sellers and the price exposes to $0.98 support level. There is tendency for the price to decline further if the sellers maintain their pressure.

ADAUSD Daily chart, January 25

Cardano has crossed the two EMAs downside, currently trading below the 9 periods EMA and 21 periods EMA at distance which indicate a bearish movement. When the sellers increase their momentum to push down price below $0.98, the support level of $0.83 and $0.73 may be tested. In case the Support level of $0.98 holds, the buyers may push up the price towards $1.11, $1.30 and $1.46 levels. The relative Strength Index period 14 is at 40 levels with the signal line pointing downside which indicates sell signal.

ADA/USD Medium-term Trend: Bearish

Cardano is on the bearish movement on 4-hour chart. The bullish movement could not continue when the buyers pushed up Cardano to test the resistance level at $1.64. The bears reacted against the price increase with the formation of bearish engulfing candle. The price started decreasing and the support level of $1.30 is broken downside. Further price decrease envisaged as the price is below the two dynamic resistance levels.

ADAUSD 4-hour chart, January 25

The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 40 levels and the signal line pointing down to indicate sell signal.

Source: https://learn2.trade 

[analyst75 12]

Lucky Block Awaits FTX Listing, On Track for 250,000 Holders in Month

Lucky Block, the new People’s Lottery platform set to launch on 21 March, is seeing its price consolidate in the $0.00190 to $0.00210 range, with more exchange listings news imminent.

The globally focused blockchain-based lottery platform that pays a dividend to all token holders and will be donating 10% of jackpots to charity, is awaiting its first listing on a centralised exchange, after launching on the PancakeSwap DEX on 26 January.

 

Pictured: Love Island 2019 contestant Nabila Badda attends an exclusive drinks reception hosted by cryptocurrency lottery Lucky Block to celebrate 2022 with a donation to the British Red Cross at IT London on January 7, 2022 in London, England. (Photo by David M. Benett/Dave Benett)

First up is expected to be the fast-growing FTX exchange, followed by Crypto.com.  Crypto.com is already tracking the price of LBLOCK. To keep up with the news on that, interested parties are urged to join the official Telegram group, where pinned messages keep the community informed.

In the short time since its PancakeSwap listing, Lucky Block has soared to a market cap of $200 million on a fully diluted basis of total supply of 100 billion tokens, with early investors seeing returns north of 1,000%.

Buy Lucky Block (LBlock) Now >

Lucky Block could have 250,000 token holders in 30 days at current rate of progress

Currently, buyers are running into strong overhead resistance in the $0.00220s area, but will be encouraged by support around the $0.00190 level, although it did slip below that level earlier today.

The number of investors (wallet holders) has climbed above 16,925 after five days of listing on just one exchange – PancakeSwap. Wallet holder numbers have doubled since the end of the presale when it stood at 8,611.

If the current rate is maintained – that’s to say doubling every 5 days, then the platform could have 250,000 active addresses in 30 days’ time.

LuckyBlock (LBlock/WBNB)
Price:	$ 0.002048 (24h +0.08%)
Volume 24 hour:	$2,097,045.80
Holders:	16,925
Transactions:	94,333
Pooled LBlock:	871,684,494.72
Pooled WBNB:	4,781.89
Liquidity:	$3,570,544.40
Diluted Market CAP:	$204,807,153.34

 

 

Lucky Block is in an ascending price channel with further catalysts from dev milestones and exchange listings news expected this week

Lucky Block app – development news on tap tomorrow, Tuesday 1 February

Lucky Block users access the lottery platform through the mobile app, due for release on 21 March. It is understood that users will be incentivised to download the app because it will be the primary way to play the lottery, which will include daily draws.

Token holders will connect their wallet to the app in order to play the lottery. The dividends from each jackpot will be paid instantly and be viewable and tracked on the app.

To drive adoption, 22.5% of token supply has been allocated to marketing to promote the global lottery.

According to team insiders, more news on app development is expected tomorrow. So too are details of its referral programme.

James Fennell, chief strategy officer at Lucky Block, said: “At the moment we are working hard to deliver on our vision for a global lottery open to all and owned by its players. 

“Key to realising that strategy is our app launch in March. The app will make playing the lottery and tracking winnings easy, as well as being the place where token holders can see their dividend payments compound and track the passive income they are earning. 

“As we continue to build out our offering, which at a later day will include gaming, NFT and metaverse products, we will work towards achieving one of our other strategic goals – advancing our mission to transform philanthropy, in part through setting up our global not-for-profit Lucky Block Foundation.”

 

Dividend yields to grow as number of lottery players increases

The dividend payout rises as the number of people playing the lottery grows.

Every time LBLOCK is sold a 12% transaction fee is applied, of which a third of that amount is paid into the lottery pool.

Regarding the market cap valuation of the platform, the revenue from ticket sales – tickets can only be bought with LBLOCK – will offset jackpot winners cashing out their LBLOCK. The exact details are yet to be revealed.

For a deeper dive into how the lottery platform’s innovative dividend works, the Lucky Block team has provided some illustrative examples:

Based on conservative amount of 25,000 holders by lotto launch 25 March:

50% of holders buying on average of 1 ticket per day  @ $2.50 with the addition of the 4% of transactional tax added to the lottery pool from the expected $400,000 a day trading volume at the time of lottery launch.

• Daily jackpot (70% of pool) of $33,075
• Daily Charity Donation (10% of pool) of £4,725
• 11.5% Dividend PA via jackpot distribution to holders

Based on conservative amount of 25,000 holders by lotto launch 25 March:

50% of holders buying on average of 1 ticket per day  @ $5 with the addition of the 4% of transactional tax added to the lottery pool from the expected $400,000 a day trading volume at the time of lottery launch.

• Daily jackpot (70% of pool) of $54,950
• Daily Charity Donation (70% of pool) of £7,850
• 19.1% Dividend PA via jackpot distribution to holders

Generic case study: Based on conservative amount of 25,000 holders by lotto launch 25 March 50% of holders buying on average of 1 ticket per day @ $5:

Alice holds $1000 LBLOCK in her wallet, which is 0.07% of LBLOCK held on the platform. She buys a $5 ticket in a lottery which has a jackpot of $54,950. Despite her 12500/1 odds, Alice doesn’t win but she get’s paid a dividend in LBLOCK of $0.52 anyway. However, Alice would have received this dividend whether she bought a ticket or not.”

If Alice held this amount of LBLOCK all year round at this rate she earns 19.5% PA. If the lottery grows, so does her return! Furthermore, if the market price of LBLOCK increases, Alice would essentially be getting free ticket entries offsetting her gains against her tickets.

The exact breakdown of the transaction fee is:

Transactional fee – 12% transactional fee on sale
Lottery Pool	4%
Liquidity Pools	4%
NFT & Gaming Royalty Fund	3%
Token Burn	1%

55.4 million tokens have been burned so far. Click here for the address at the bscscan explorer (screenshot below):

 

 

Token distribution of the total supply of 100,000,000,000 (100 billion) is as follows:

• Presale: 32,500,000,000 (32.5 billion – 32.5%) 
• Strategic partners and advisors: 20,000,000,000 (20 billion – 20%)
• Marketing: 22,500,000,000 (22.5 billion – 22.5%)
• Team: 20,000,000,000 (20 billion – 20%)
• Product development: 2,500,000,000 (2.5 billion – 2.5%)
• Locked liquidity – 1-year lock: 2,500,000,000 (2.5 billion – 2.5%)
  
  Source: https://www.economywatch.com/news/lucky-block-awaits-ftx-listing-on-track-for-250000-holders-in-month

[analyst75 12]

LUCKY BLOCK MARKET FORECAST: LBLOCK/USD IS SET FOR AN UPWARD BREAKOUT

Lucky Block Market Forecast – February 3

The Lucky Block market forecast points towards a breakout to the upside after the market conforms to a triangle pattern.

LBLOCK/USD Long-term Trend: Bullish (Daily Chart)

Key Levels:
Resistance Levels: $0.0011500, $0.001370
Support Levels: $0.0009490, $0.0007300
LBLOCK/USD bulls are leveraging on a strong and significant price level to halt the activity of the bears. Furthermore, the price is expected to rise further in favor of buyers as it follows a symmetrical triangle pattern. Hence, the market can be seen making consistent lower highs and higher lows as it tapers through the triangle pattern. From yesterday into today, the market has become quiet as it waits for market forces to push it in an upward direction.

Lucky Block Price Prediction: LBlock Market Anticipation

The market has been in decline since hitting a strong resistance level at $0.001970. The price is seen gyrating downward above the downtrend line. The fall in the price of Lucky Block is an opportunity for buyers as they set themselves up in an array to gazump the market at a lower price.

The $0.0009490 key level is the reversal point at which the bulls chose to enter the market. Bears were unrelenting nevertheless, and they dragged the market below the strong support level. However, the price is now recoiling into a triangle pattern as it prepares for a push-up.

LBLOCK has climbed back above the strong support at $0.0009490 as it tapers through the symmetrical triangle. The Parabolic SAR (Stop and Reverse) already infers a change of direction upwards with multiple dots below the daily candles. The Stochastic, meanwhile, has risen to midlevel, from where it has crossed upward to the overbought region. A slight pullback may precede a market breakout.

LBLOCK/USD Medium-Term Trend: Bearish (5-minute chart)

The 5-minute chart helps us see the silence in the market as bulls get ready to swoop into the market. LBLOCK/USD is currently ranging between $0.001150 as resistance and $0.0009490 as support, and the price is set to take a definite direction.
Like the daily chart, the Parabolic SAR has multiple dots below the 5-minute candles to signal a switch in an upward direction. The Stochastic on the 5-minute chart is currently hovering around the overbought region. The price is likely to touch down at $0.0009490 before breaking out upward towards $0.001370.

Source: https://learn2.trade 

[analyst75 12]

SILVER (XAGUSD) PRICE: BULLISH REVERSAL AT $22 LEVEL, TARGETING $23 RESISTANCE LEVEL

 

SILVER Price Analysis – February 10

The price may increase to the resistance level of $23 and if it does not hold, it may incline to $24 and $25 levels. When the bears interrupt the bulls, price may decrease towards the support level of $22, $21 and $19.

XAGUSD Market

Key Levels:

Resistance levels: $23, $24, $25

Support levels: $22, $21, $19

XAGUSD Long-term trend: Bullish

On the daily chart, XAGUSD (Silver) is bullish. There is a formation of double bottom chart pattern at $22 support level. This is a bullish chart pattern which indicate that bulls are increasing their momentum in the Uniswap market. The price is increasing towards the resistance level of $23 at the moment. That means the buyers are in control of the Silver market, further increase envisaged.

There is an increase in bullish momentum as the Silver price is trading above the 9 periods EMA and the 21 periods EMA. The relative strength index period 14 is above 50 levels with the signal lines pointing up displaying bullish direction. The price may increase to the resistance level of $23 and if it does not hold, it may incline to $24 and $25 levels. When the bears interrupt the bulls, price may decrease towards the support level of $22, $21 and $19.

XAGUSD Medium-term Trend: Bullish

XAGUSD is bullish on the daily chart. The price was bearish last week as the price action was under the formation of “W” chart pattern. The bulls have gained more momentum and the price is increasing accordingly. The price is heading towards the resistance level of $23 at the moment.

The Silver price is trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is above 60 levels with the signal lines pointing up to indicate buy signal.

Source: https://learn2.trade 

[analyst75 12]

ETHEREUM REACHES AN OVERBOUGHT REGION, FACES REJECTION TWICE AT $2,700 HIGH

Ethereum makes an upward correction to the high of $2,756
ETH/USD reaches an overbought region of the market

Ethereum ETH) Current Statistics
The current price: $2,647.01
Market Capitalization: $316,852,179,584
Trading Volume: $13,281,411,345
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis February23, 2022
Ethereum’s (ETH) price is now in a downtrend as it faces rejection twice at $2,700 high. Ether price fell to the low of $2,563 as bulls bought the dips. The largest altcoin is making an upward correction but it is facing resistance at the $2,756 high. If Ether turns from the recent high and breaks below the $2,500 support, the altcoin will decline to the previous low at $2,300 support. Since January 22, ETH/USD has been consolidating above the $2,300 support.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 43 of the Relative Strength Index for period 14. The market has fallen to the downtrend zone and below the centerline 50. This implies that the altcoin is capable of a further downward move. Ether’s price bars are below the moving averages which give the impression of a further downward move. Ether is above the 80% range of the daily stochastic. The market is in the overbought region. As Ether faces rejection, the altcoin may likely decline.

Conclusion
On the 4-hour chart, the altcoin is in an upward move but faces rejection twice at $2,700 high. The uptrend reached an overbought region of the market. Meanwhile, on February 20 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. the Retracement indicates that Ether will fall to level 1.272 Fibonacci extension or $2,400.42.

ETH/USD – 4 Hour Chart
 

Source: https://learn2.trade 

Edited February 25, 2022 by analyst75

[analyst75 12]

BITCOIN SLUMPS BELOW $35,000 AMID WORSENING GLOBAL GEOPOLITICAL TENSIONS

 

Bitcoin (BTC) suffered another wave of sell-off in the Asian session on Thursday, as it fell to the $34,337 low. The rest of the cryptocurrency industry suffered the same fate, as the total market capitalization fell to the $1.5 trillion mark again.

Many analysts argued that the $35,000 level was a critical level for the benchmark cryptocurrency and that a sustained breach below this level could spur additional sell-offs. That said, speculation over the next support level and whether a near-term recovery was possible flooded the crypto space on Thursday.

Notably, the refreshed bearish momentum came due to the risk flight by investors across the financial markets after Russian forces invaded Ukraine on Thursday after Russian President Vladimir Putin said that the country would carry out a “special” military operation in Ukraine and called for Kyiv to surrender.

The broadcast triggered a widespread crash across the equities and crypto market this morning, highlighting the tight correlation between both markets.

Meanwhile, stablecoins recorded the highest overnight trading volume amid the frenzied flight to safe-haven assets. Tether (USDT) recorded a 24-hour trading volume surge of over $50 billion, while Binance USD (BUSD) and USD Coin (USDC) trading volumes spiked by about $8 billion collectively.

With reports of bombing and aggressive military operations in Ukraine, investors remain on edge over a possible retaliation from western powers. Already, the US has imposed some sanctions against Russia and has promised to impose even stricter sanctions. Also, the EU is set to impose “the harshest sanctions ever” on Russia, according to the EU foreign policy chief.

Key Bitcoin Levels to Watch — February 24

As mentioned earlier, BTC continues to suffer intense bearish pressure amid the prevailing risk-off mood in the market, as the benchmark cryptocurrency inches closer to its 2022 low of $33,150.

BTCUSD – 4-Hour Chart on Gemini. Source: TradingView

Notably, we can see the completion of a bearish golden cross pattern on the 4-hour chart, indicating that the bearish trend could persist longer. That said, I expect a sighting of the $33,000 low this week as the market fall to bearish forces.

Meanwhile, my resistance levels are at $36,000, $37,500, and $38,500, and my key support levels are at $36,320, $36,000, and $35,000.

Total Market Capitalization: $1.57 trillion

Bitcoin Market Capitalization: $666.9 billion

Bitcoin Dominance: 42.4%

Market Rank: #1

Source: https://learn2.trade